Ameren Corporation priced a $400 million senior notes offering due 2036 at 99.802% of principal, with a 5.00% coupon. The notes are scheduled to close on March 4, 2026, subject to customary closing conditions.
The company will use the net proceeds for general corporate purposes, including repayment of short‑term debt and refinancing of its 3.65% senior notes that mature in 2026. By extending the maturity profile and locking in a 5.00% coupon, Ameren is optimizing its capital structure and securing a lower‑cost financing option to support its long‑term capital investment plan while maintaining a strong credit profile.
Ameren’s recent financial performance provides context for the issuance. In the fourth quarter of 2025, the company reported earnings per share of $0.78—$0.01 above consensus—and revenue of $1.78 billion, $90 million above estimates. The company reaffirmed its 2026 earnings guidance of $5.25 to $5.45 per diluted share and projected a 6% to 8% compound annual EPS growth rate through 2030, underscoring its financial strength and confidence in future growth.
The debt issuance aligns with industry norms for regulated utilities, which routinely raise capital to fund infrastructure upgrades. Ameren has previously issued senior notes in March 2025 ($750 million) and February 2021 ($450 million), demonstrating a consistent strategy of managing debt maturities and interest costs.
Management emphasized its commitment to customers and infrastructure. “Our steadfast focus remains on the customers and communities we serve. Customers depend on us to bring them reliable, resilient energy while keeping their bills as low as possible. A disciplined and strategic approach to investing in our electric and natural gas infrastructure to bolster reliability and facilitate growth in our communities is more important than ever,” said CEO Martin J. Lyons Jr. in the company’s February 11 earnings release.
The $400 million senior notes issuance provides Ameren with additional liquidity and a favorable financing structure, reinforcing its ability to fund future capital projects and maintain a robust credit rating.
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